TRO Test Results v2

[trendie]

Horiz line: 00, 25, 50, 75.
on open of new hour; there are two horiz-lines, one above and one below the opening price of the hour.

Caveat: sometimes the opening price is very close to the horiz-lines, and spreads may also be a factor. grey area.

once opened, the trade should have a max stop-loss (SL) of 25 pips, and a take profit (TP) of 25 pips.

once opened, trail the price action by 25 pips. (eg, if price moves 10 pips in your favour, your SL moves, and your max-loss is reduced to 15 pips, etc).

reasoning: 5 pips is just noise. you have to allow some room for trade to make headway. the risk:reward is better, more meaningful.

I wonder if north5 could modify his EA to apply the above rules to his existing EA.

what are results under the above conditions.

additionally, from comments /views from other thread, some intelligence needs to be applied to best times of day to trade. I wonder how many losing trades happened at 2,3,4am UK-time?

EDIT: the shaded areas are areas of concern, and not clear-cut. I have put ?? marks where the trade would have resulted in a reduced loss, ie, the market moved so that the max -25 pips wasnt hit.

 

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Nov-24-EU

 

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Nov-25-EU

 

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Nov-26-EU

 

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Nov-27-EU

 

[UKtradergirl]

This is a much better strategy. I agree totally with the higher take profit- also with avoiding middle of the night trades.

Looking forward to seeing the results of this! I think you can alter the TP and SL in the EA already- but avoiding the night trades would have to be coded.

 

[north5]

North5 probably could - but it won't be for a little while. I've noticed two new things that I want to go into my own EA and I start a new job Monday.

So lets gather all the thoughts together so I can do it in one hit.

I could add a session filter to only trade certain sessions.

It may be worth just adding some basic filters on the EA that can be turned on/off. I would suggest not going long/short if oversold/bought indicators are showing. Maybe only trading in the direction of an MA....

Whilst they may not be used in trading - they may be useful in the backtests to spot how common ideas effect the strategy.

trendie - I'll leave it up to you to keep the thread alive, collect and devise what you think the most significant thoughts are. I'll post back to give some idea of when I can fit it in.

 

[trendie]

I am not interested in TROs methods!! (I have my own rules/alerts, and trade comfortably off them)

Whats instructive, is how people are not looking deeper into underlying principles.

At some point, someone should realise there should be rules for allowing staying in a trade rather than bail out after 25.
at some point, someone will realise you dont have to wait for the price to hit the horiz-line before getting in!
At some point, someone will realise you can use ATR or Keltner or Bollingers to quantify the stop-loss (base it on volatility), rather than a fixed amount of 25 pips!

Its all about the balance of risk:reward and money management.
Applying common-sense.
Just wanted to start this thread to show, that it MAY be possible to make money using these horiz-lines. But its the other bits that MIGHT make it work.
(still concerned about the Sup/Res people who believe 00 to be a strong sup/res, so wary of taking horiz-line trades into them)

By the way, this is in no way in support of TRO, (anyway, I reckon my variation blows his scalping out of the water). :cheesy:
But, as a piece of advice, stop blinkering yourselves to specific numbers, and see the broader principles, and go with the flow of the promising statistics.
have a good weekend.

 

[north5]

I didn't say you were that interested in the particular method.

To be honest I wrote the EA in the hope that people would contribute on such topics so that I/We could explore the momentum trading in more detail as it's a strategy I don't use and one I would like to understand more. Maybe this thread will deliver that?

 

[north5]

OK - I think I have quickly added trailing stops to the EA. Haven't got time to do any more and so I haven't even tested it. May give some immediate stats though to see if it's worth continuing.

 

[north5]

trendie,

I did write your EA and ran a few tests. It is more profitable (?). It did show a profit on a pair or two over a long period - about £200 on £10k. It has periods of good profitability - then gets tanked. So it behaves exactly as expected really. Adding a few simple indicators don't add anything either. SO it basically has no statistical significance at all IMO.

If anyone cares I will post it up on request.

 

[trendie]

trendie,

I did write your EA and ran a few tests. It is more profitable (?). It did show a profit on a pair or two over a long period - about £200 on £10k. It has periods of good profitability - then gets tanked. So it behaves exactly as expected really. Adding a few simple indicators don't add anything either. SO it basically has no statistical significance at all IMO.

If anyone cares I will post it up on request.

oh well, seemed like a good idea at the time.
have a good weekend.

 

[TheRumpledOne]

OK - I think I have quickly added trailing stops to the EA. Haven't got time to do any more and so I haven't even tested it. May give some immediate stats though to see if it's worth continuing.

I asked you politely to NOT start your indicators with TRO because someone may think that I wrote it. I don't want credit/blame for something I didn't write/modify.

Thank you.

 

[escoe]

hey whats up.here my 2 cents..as u can see im really new to this board but ive been followin up on this strat and added more to it....... screw all the indicators and oscillators. and open up the 30m chart....put entry orders at all those levels around the price with a profit target of ONE pip...also...talking as if the previous bar( the one b4 the current bar) is a long(green or blue for some of yall) candle....i place an entry at the HIGH and a entry order at the opening(not low) of that previous candle...and place limits for 1 pip....as for stop loss...i put -10 for all of them....u can get atleast 10pips through 5 candles...and pretty promising ones too....ur probally wondering ''why only one measly pip''....well that pip is worth it when u have 50% of ur account and 200:1 leverage behind it lol...thanks for reading

 

[UKtradergirl]

and what happens if you have 50% of your account and 200:1 leverage behind a losing trade?

 

[dcraig1]

Oh dear, sticking multiple entry orders into any market using extreme leverage is one of the most stupid things you can possibly do. What happens if there is some sort of gap in the market due to an unforseeable news event. Very likely game over.

If you are going to engage in this sort of stuff, you at least need a proper broker that supports OCA (One Cancells All) order groups. Even then you are really asking for it.

 

[escoe]

well i am at the screen.....and i will cancel out all orders that hav not been touched when a new candle forms. btw....multiple trades are never be open at one time

uktrader..u ask wut happens....a -10 will put me back about a .5 of a day to 1day worth of trading...which barely happens cuz these +1 limits are pretty promising...

 

[zupcon]

uktrader..u ask wut happens....a -10 will put me back about a .5 of a day to 1day worth of trading...which barely happens cuz these +1 limits are pretty promising...

You're broker (and IB) must absolutely love you, but well done finding a style that you enjoy trading

 

[escoe]

thank you...oh i forgot to state some comforting facts....i trade eurjpy with a fxcm micro acct...the spead is usually as low as 1.1 pips.....i wouldnt dare try this with gbpjpy

 

[phreddyinbg]

Hi, I have been trying to puzzel out the rules for the NLA system and to discover which of the many indicators or other EAs are necessary for it.

I would be obliged for some help here.